Ifeanyi Jesse 
Cardano whales are stockpiling. Five hundred sixty million ADA tokens were added to 100 million–1 billion ADA addresses. The acquisition cost $218.5 million. Three billion ADA tokens worth $1.16 billion are in the addresses.
#Cardano whales are on a shopping spree! Over the past 2 weeks, they've scooped up 560 million $ADA tokens, valued at $218.4 million. 👀🙀 pic.twitter.com/6uaRZMbfOO
— Ali (@ali_charts) April 9, 2023
March 26 distribution campaign participants included the addresses. April saw the same lessons accumulate in ADA after the distribution effort. Cardano Whales bought more on April 5 as it tried to reclaim the $0.40 mark for the second time in a week.
This year, ADA has more non-zero addresses. Since January, the Bitcoin project has added 79,196 non-zero addresses. According to IntoTheBlock, 51% of ADA holders are long-term. The statistic indicates investor confidence in the asset.
Cardano (ADA): Bearish On-Chain Signals
IntoTheBlock analytics showed negative on-chain signs for ADA. The analytical platform reports a 0.29% decline in network growth. 66% of investors lost money after a 0.77% drop. Large transactions fell 1.56%.
ADA prices are consolidating. Support is $0.3759, and resistance is $0.3991. If ADA breaks the currency barrier, it may encounter new resistance at $0.4193.
